Ethereum technical analysis: ETH/USD additional pressure is in play following bearish pennant breach

Ethereum price is trading in the red, down 1.90% the session on Tuesday.
ETH/USD has been at the mercy of the bears since losing the psychological $200 price mark.
The price running closer towards a big $100 price retest, which could spark further panic selling.

Ken Chigbo Independent Analyst

ETH/USD weekly chart

Price action is running towards its sixth consecutive week in the red, following a bearish pennant breakout.

ETH/USD daily chart

Price action breached a critical narrow daily range, $155-145, which has had the sellers in control since.

Spot rate: 128.95

Relative change: -2.90%

High: 132.88

Low: 126.80

ETH/USD

Overview
Today last price	129.82
Today Daily Change	-2.89
Today Daily Change %	-2.18
Today daily open	132.71

Trends
Daily SMA20	147.4
Daily SMA50	166.04
Daily SMA100	174.27
Daily SMA200	206.87

Levels
Previous Daily High	142.81
Previous Daily Low	129.71
Previous Weekly High	152.14
Previous Weekly Low	139.4
Previous Monthly High	194.8
Previous Monthly Low	132.49
Daily Fibonacci 38.2%	134.71
Daily Fibonacci 61.8%	137.8
Daily Pivot Point S1	127.34
Daily Pivot Point S2	121.98
Daily Pivot Point S3	114.25
Daily Pivot Point R1	140.44
Daily Pivot Point R2	148.17
Daily Pivot Point R3	153.53

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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